The Problem

A British couple moved abroad with the intention of letting out their previous UK home.

They therefore required advice with regards to the ongoing compliance obligations for non-UK resident landlords and for when they eventually sell their property.

The Solution

PD Tax Consultants prepared written advice for the clients detailing the tax consequences of selling their former residence and renting it out.

This included examining the applicability of the non-resident landlord scheme and the new non-resident capital gains tax (NRCGT) regime, as well as highlighting any relevant anti-avoidance provisions and available reliefs.

The Result

With the help of our advice, the clients could let out their UK property confident that they were meeting their UK tax compliance obligations.

As our clients came within the non-resident landlord scheme, we then liaised with HMRC to ensure that withholding tax would not be necessary on any future rental income received.